Allowance for doubtful accounts

/Allowance for doubtful accounts

Allowance for doubtful accounts

Allowance for doubtful accounts: Used to estimate uncollectible credit sales

  • Contra account: Appears as a negative number (credit) in the asset section of the balance sheet
  • Allowance is increased along with bad debt expense if more customers are expected to not pay amounts due

H_7F_Allowance_for_doubtful_accounts

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By |2018-01-22T10:24:34+00:00August 5th, 2015|0 Comments

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John Gillingham is a CPA and Accounting App Developer in San Francisco, California. Check the iOS App Store for Accounting Flashcards and the Debits & Credits Game. On Android: Learn Accounting Flashcards. Also on Kindle and iBooks.

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